- HMRC updated VAT Notice 700/18 on Bad Debt Relief.
- The update details when and how businesses can claim relief.
- Businesses can claim if they have unpaid supplies and meet specific conditions.
- Conditions include accounting for VAT, writing off the debt, and a six-month unpaid period.
- Claims must be made within four years and six months of the due date.
Source: marcusward.co
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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